It's hard to imagine life without our phones and mobile devices in 2022. From keeping up with friends, getting updates on happenings worldwide, binging on movies and series and even shopping online, life these days revolves around mobile activities.
For businesses, it is important to understand this and how it affects what you sell or offer. Shopping online is the norm these days, not the exception it used to be in the last decades. Mobile devices are now an integral part of business growth amid smartphone and internet penetration.
According to data acquired by Finbold, Nigeria is among the top three countries in the world that made online purchases with mobile devices. As of April 2021, Nigeria and South Korea accounted for 65% of all e-commerce transactions globally. Statista in 2020 reported that 88% of all visitors on online marketplaces for physical goods in Nigeria used a mobile device.
These data matter to every business operating in Nigeria and across Africa and provide a roadmap for successful businesses. With this consumer behaviour pattern, there are many opportunities for e-commerce businesses to acquire and connect with shoppers, create better shopping experiences, and build long-term relationships.
We recommend three ways e-commerce businesses can take advantage of mobile shopping.
1. Optimise for a young audience
Mobile shopping is most popular among the young generations globally, including Nigeria. According to the Pew Research Center, smartphone adoption has grown more quickly among younger generations. Of course, we don't need much data to know this; the eye test alone is enough. Look around you; mobile activities drive Africa's young generation.
So while building e-commerce strategies, it should be optimised for a younger audience. From content to marketing messaging, young people should be top of mind for all e-commerce strategies.
2. Build apps
Mobile devices are designed for users to interact with apps, features and functions. With the vast percentage of online shoppers using mobile devices, e-commerce businesses need apps. Having an app for your business helps you have direct communication and engagement with your customers and increases brand awareness.
Having an app is a helpful marketing channel because it instantly sends notifications and information to customers. You can also create an effective loyalty program for customers and get ahead of your competitors with an app.
3. Seamless payment options
Young people are easily distracted, and with so many things competing for their attention on the internet, it is easy to lose customers even at the payment stage. This is why having seamless payment options is beneficial for your e-commerce business.
E-commerce businesses have to power payment pages for mobile acceptance, make checkout easier and offer a wide choice of local payment methods and currencies.
With Fincra as your payment partner, all these are possible. Partnering with Fincra for your payment solutions can help you increase conversion rate and scale your business.
Through Fincra's reliable infrastructure, e-commerce businesses can scale globally with our easy to integrate API keys for payouts and collections to enable them to perform transactions with ease and provide their customers with a better payment experience.